Highlights
After May's nearly as-expected $88.4 billion deficit, the government's red ink eight months into fiscal 2017 is $432.9 billion or 6.8 percent above this time last year. Receipts are running higher this year, at 1.4 percent that includes a 2.3 percent increase in corporate taxes but only a 1.0 percent gain for individual taxes. Pulling the deficit higher is a 2.3 percent increase in outlays that includes higher social security and net interest expenses.

Recent History Of This Indicator
Seven months into the fiscal year, the government's deficit in April was tracking 2.4 percent below fiscal year 2016. Both individual and corporate taxes have been up slightly while, on the outlay side, net interest has been rising as have expenses for Medicare. The Econoday consensus for May's Treasury budget is calling for an $87.0 billion deficit.

Definition
The U.S. Treasury releases a monthly account of the surplus or deficit of the federal government. Changes in the budget balance reflect Federal policy on spending and taxation. The government's fiscal year begins in October.
Why Investors Care

The federal budget balance is not seasonally adjusted. Consequently, it is useful to compare the current month's budget deficit or surplus to the same month for a couple of years. Some months are known to have large surpluses because quarterly estimated tax payments are received by the government.Data Source: Haver Analytics